Salesforce.com Jumps 10% on Q4 Earnings, Updated Guidance
Hyper-growth, enterprise cloud computing company Salesforce.com (NYSE: CRM) released its Q4 earnings results on Thursday after the closing bell. The San Francisco based company reported a fourth-quarter net loss of $4.08 million or $0.03 per share, versus net income of $10.91 million or $0.08 per share, in last year's corresponding period.
On an adjusted basis, which is comparable to analysts' consensus, earnings per share were $0.43 compared to $0.31 in the year ago quarter. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.40.
Revenues in the quarter rose to $631.91 million compared to $456.87 million last year and Wall Street estimates of $624.03 million.
Looking ahead to the first quarter, CRM sees non-GAAP EPS in a range of $0.33 to $0.34 on revenue of $673-678 million. This compares to current Street consensus estimates of $0.36 on revenue of $663.14 million.
For fiscal 2013, CRM expects to report non-GAAP EPS between $1.58 and $1.62. Revenues are now expected to be between $2.92 billion and $2.95 billion versus previous guidance of $2.880 billion to $2.920 billion. Currently, Wall Street analysts are projecting that CRM will earn $1.62 per share on revenue of $2.91 billion for fiscal 2013.
In Thursday's after hours trading session, CRM shares have surged better than 10% to $145.20 as investors react to the "beat and raise" quarter from Salesforce.
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